Full breakdown of Canada’s fall fiscal update

Global News published this video item, entitled “Full breakdown of Canada’s fall fiscal update” – below is their description.

Finance minister Chrystia Freeland, who took over the job in August, has laid out how much it will cost to shore up the economy until this pandemic is over, in the government’s opinion. Before COVID-19 Canada’s deficit for 2020 was projected to be about $34 billion. By July, the government predicted it would balloon ten times that: $343 billion. Now Freeland says it’s likely to jump to $381 billion, because $25 billion is being spent on new programs that will set the stage for Canada’s economic recovery. The wage subsidy is being increased, and parents of young children will get more through the Canada Child Benefit. There’s help for airlines and tourism and money going to the provinces to spend on improving long-term care. David Akin has the full breakdown while Ottawa Bureau Chief Mercedes Stephenson gives her take on what stood out in this fall fiscal update.

MORE: https://globalnews.ca/news/7492399/fiscal-update-child-benefit-wage-subsidy-airline-refunds/

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Canada is a country in the northern part of North America. It extends from the Atlantic to the Pacific and northward into the Arctic Ocean, covering 9.98 million square kilometres (3.85 million square miles), making it the world’s second-largest country by total area.

Its southern and western border with the United States, stretching 8,891 kilometres (5,525 mi), is the world’s longest bi-national land border. Canada’s capital is Ottawa, and its three largest metropolitan areas are Toronto, Montreal, and Vancouver.

Various Indigenous peoples inhabited what is now Canada for thousands of years before European colonization. The Canada Act 1982, which severed the vestiges of legal dependence on the British Parliament. Canada is a parliamentary democracy and a constitutional monarchy in the Westminster tradition, with a monarch and a prime minister who serves as the chair of the Cabinet and head of government.

As a highly developed country, Canada has the seventeenth-highest nominal per-capita income globally as well as the thirteenth-highest ranking in the Human Development Index. Its advanced economy is the tenth-largest in the world, relying chiefly upon its abundant natural resources and well-developed international trade networks.

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